Denali Advisors LLC Sells 900 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Denali Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the information services provider’s stock after selling 900 shares during the quarter. Denali Advisors LLC’s holdings in Alphabet were worth $1,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the fourth quarter valued at approximately $30,000. Finally, Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at $41,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.2 %

GOOGL opened at $165.85 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a 50 day simple moving average of $162.52 and a 200 day simple moving average of $166.84. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm earned $1.44 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The disclosure for this sale can be found here. Insiders have sold 193,725 shares of company stock worth $31,933,031 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOGL. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, August 30th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 target price on shares of Alphabet in a research note on Wednesday, July 24th. Roth Mkm restated a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.